Standard conveyancing can take months. You need a solicitor experienced in auctions who can review the before the auction and move at lightning speed once you win. 3. The Valuation Hurdle
Check for hidden fees or sitting tenants. buying at auction with mortgage
If you’re planning to bid, here is your essential roadmap: 1. Secure an Agreement in Principle (AIP) Standard conveyancing can take months
This is the biggest risk. Your lender will require a valuation after you’ve won. If the surveyor values the property lower than your winning bid (a "down-valuation"), you must bridge that financial gap yourself or risk losing your . 4. Property Condition Matters buying at auction with mortgage